How to reflect a discount
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In order to attract more visitors and increase their income, companies offer their customers discounts. And this moment must be correctly reflected in accounting.
Instruction manual
1
If the price changes at the time of sale, that is, there is a direct sale for a smaller amount, make the following transaction. Debit 62 (50), loan 90-1, where the sales proceeds will be reflected, and the discount will be taken into account. Debit 90-30, credit 68 subaccount "Calculations of VAT", which reflects the calculation of VAT from the actual amount of sale, provided that the company pays taxes. Debit 51, loan 62 - reflected receipt of payment by the seller already taking into account the discount.
2
If it is necessary to reflect the discount in respect of future purchases, when the buyer accumulates a specific discount percentage for a certain number of purchases, the provision of this discount is reflected at the time of sale of the product or the provision of services. And in this case, make the wiring. Debit 62 (50) loan 90-1 - reflects the profit from the sale, taking into account the discount. Debit 90-2, credit 68, sub-account "Calculations for VAT", when VAT is calculated from the actual amount of sale, provided that the company is a tax payer. Debit 51, credit 62 - reflects the receipt of payment from the buyer, taking into account the discount.
3
Also, the discount may apply to past purchases. It should be reflected depending on when it was provided. If before the end of the year in which the sale of goods was completed, at the time of sale, the transaction will be as follows - debit 62, credit 90-1 - reflection of revenue from sales. Debit 90-3, credit 68 subaccount "Calculations for VAT" - VAT calculation. Immediately at the time of the discount - debit 62, credit 90-1 - reversal of profit on goods already shipped for the amount of the discount. Debit 90-3, credit 68 subaccount "Calculations for VAT" - reversal of already accrued VAT.
4
If the discount was granted in the current year, but according to the results of sales last year, and the reporting has been handed over, the reversal records must be dated December 31 of the past year. Debit 62, credit 90-1 - reversal of the amount of revenue for goods already shipped for the amount of the discount. Debit 90-3, credit 68 subaccount "Calculations for VAT" - reversal of already accrued VAT, which refers to the amount of the discount.
5
Provided that the discount is given in the current year for products that were sold in the past, and reporting for the last year has already been approved, these data cannot be corrected. In this regard, reflect the amount of the discount as part of other expenses. And if there are expenses of past years, make an accounting entry - debit 91-2, credit 62 (76) - identification of losses of past years that are associated with the provision of discounts.
